E27 - Gambling Psychology
Business of Betting Podcast
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The Attraction to Slot Machines and Poker Machines
In Australia poker machines are the fourth most popular type of gambling but they make up two thirds of all gambling revenue or expenditure rather. Poker machines work on an intermittent or a random reinforcement schedule and what that means is that each time you press the button you're not quite sure what's going to happen. Problem gamblers see a loss as meaning a win these just around the corner it's like i've had nine heads after a coin toss in a row the next one must be a tale which is absolutely not true. Every time you sit down the longer you are to play the more likely you are to lose over. A poker machine could potentially be won the jackpot can be won by anyone because
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